WTO is the third pillar of the word trade the first two pillars are
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IMF (International Monetary Fund) is the first
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WTO is the third pillar of the world trade the first two pillars are the International Monetary Fund (IMF) and World Bank are the other two supporting pillars amongst the three.
Explanation:
- The realm of trade is increasingly reliant on three specific pillars, which implies it is primarily dependent on three institutions.
- These 3 organizations which plays an important role in the trade operation.
- The World Trade Organization (WTO) the recipient of the 'General Agreement' in relation with Tariffs and Market as well as the World Bank Group.
- The World Bank is an global economic institution that gives loans and grants to the governments of 'poorer countries'.
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